kept its financial targets steady late Wednesday, one day after its largest competitor lowered its margin targets.
Xilinx, which makes programmable chips, said it still expects fiscal second-quarter sales to be between $405.4 million and $421.6 million, for flat to 4% sequential growth. Gross margins are still expected to be between 61% and 62%.
Analysts had expected sales of $415 million and earnings of 22 cents a share, on average, according to Thomson First Call.
Xilinx also stated that its tax rate will be 15%, down from an earlier projection of 24%, because of a previously announced favorable court ruling regarding taxes.
San Jose, Calif.-based Xilinx makes microchips that can be programmed for use in a variety of products, including data storage applications, automobiles and computers.
Its largest competitor,
, on Tuesday held its sales targets steady but reduced its gross-margin expectations because of what it said is
a permanent shift away from certain low-volume, high-margin semiconductors.
Shares of Altera dropped almost 8% to $20.11 during Wednesday's regular session; in recent after-hours trade they were off 2 cents to $20.09.
Xilinx shares fared better, closing nominally higher at $28.44. Shares were not active in late trading after the update was announced.